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Quantum stocks rip as IonQ unveils new contracts, passes benchmark milestones
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It’s World Quantum Day, so why wouldn’t quantum stocks be ripping?
Key facts
- Oracle extended its premarket gains Friday after Wedbush Securities’ Dan Ives initiated coverage with an “outperform” rating and a $225 price target, about 25% upside to its pre-initiation level
- SpaceX thinks its total addressable market (TAM) is a whopping $28.5 trillion for its businesses, according to an S-1 filing for its upcoming IPO reviewed by Reuters
- D-Wave Quantum, Rigetti Computing, and Quantum Computing also rose sharply
- The authors of the model acknowledge some of V4’s shortcomings, such as its lower scores on reasoning benchmarks, saying that V4 “trails state-of-the-art frontier models by approximately 3 to 6 months
Summary
Shares of IonQ and its quantum computing peers surged Tuesday as IonQ disclosed new contracts and a new set of benchmarks, investors poured back into retail traders’ favorite stocks, and the mood in the markets was decidedly risk-on. D-Wave Quantum, Rigetti Computing, and Quantum Computing also rose sharply. IonQ CEO Niccolo de Masi said in a CNBC appearance that the company made four recent announcements that are boosting the stock:. “First one was an increase of their partnership with Air Force Research Lab, meaningful contract win.